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ProShares Ultra Europe ("the Fund") seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the FTSE Developed Europe Index ("the Index"). The Index is a free float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of the developed markets in Europe. The Index is divided into large- and mid-cap segments and targets approximately 85% of free float-adjusted market capitalization of the region.